TOPEKA — Insurance Commissioner Sandy Praeger said the Kansas Insurance department will receive a little more than $510,000 in settlement funds from six different insurance companies following a review of the companies’ death benefit practices. The funds are Kansas’s share of a national settlement. The life insurance companies used the Social Security Death Master File to search for and stop immediately payments to deceased annuity holders, she said. However, they didn’t bother using the same database to identify deceased life insurance policyholders to pay beneficiaries promptly, she said. Under Kansas law, the settlement goes into the state’s general fund.
Wednesday, Dec. 18, 4 p.m.
